Pune Man Inspired by '3 Idiots' Rancho Wins AI Award, Driven by 'Local for Global' Vision

Pune Man Inspired by 3 Idiots Rancho Wins AI Award: The Pune-based Prashant Pansare always imagined himself as Rancho, the lead character of the film 3 Idiots portrayed by Aamir Khan.

"Having an MBA degree and being a mechanical engineer, I began my corporate career, but was unsatisfied because there were no innovation challenges. “My work focused mainly on how Indian IT software can provide services to foreign companies,” he says.

At the 9th International Conference on Artificial Intelligence a few weeks ago, Pansare was awarded the Award of Merit for Excellence in Best AI Technology Product Startup for his startup, Rubiscape.

Having decided to become a first-generation entrepreneur in 2004 with a focus on business intelligence and analytics, Panare says he turned into one in 2005. During that year, he created Inteliment Technologies to provide solutions and services in business intelligence, data warehousing, and other areas, among others. He served Fortune 500 companies as a client.

India became a global IT superpower, but he was concerned that its product development and innovation were not enough. “When we were creating solutions for our national and international customers, we always hit the glass ceiling in terms of tool flexibility. This was because we had to depend on foreign companies and their technologies, which were complex, expensive, and proprietary,” he says.

Founded four years ago under the government of India's Digital Startup Programme, Rubiscape helps companies run advanced analytics on their data.

Public sector companies, government agencies, and the defense sector approached the company after it built a product. It has signed deals with several large businesses.

“Our motto is to make local for global,” he says. “When we were given the CII award, my reaction was that this award has many winners,” he adds.

Rubiscape's founder says that the company is just going to keep walking despite stiff competition and price pressure from established brands.

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